Fulton Bank N.A. Has $565,000 Holdings in FirstEnergy Corp. (NYSE:FE)

Fulton Bank N.A. increased its position in FirstEnergy Corp. (NYSE:FE) by 33.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,206 shares of the utilities provider’s stock after purchasing an additional 3,548 shares during the period. Fulton Bank N.A.’s holdings in FirstEnergy were worth $565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Balanced Wealth Group LLC grew its holdings in shares of FirstEnergy by 0.9% during the third quarter. Balanced Wealth Group LLC now owns 26,741 shares of the utilities provider’s stock valued at $1,186,000 after buying an additional 241 shares in the last quarter. Commonwealth Financial Services LLC grew its stake in FirstEnergy by 4.4% during the 2nd quarter. Commonwealth Financial Services LLC now owns 5,869 shares of the utilities provider’s stock valued at $226,000 after acquiring an additional 249 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of FirstEnergy by 1.7% in the 3rd quarter. Metis Global Partners LLC now owns 16,916 shares of the utilities provider’s stock valued at $750,000 after purchasing an additional 288 shares during the period. Quarry LP lifted its position in shares of FirstEnergy by 59.1% in the third quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 320 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in shares of FirstEnergy by 3.5% during the third quarter. V Square Quantitative Management LLC now owns 9,514 shares of the utilities provider’s stock worth $422,000 after purchasing an additional 324 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Stock Performance

Shares of FE opened at $39.81 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. FirstEnergy Corp. has a one year low of $35.41 and a one year high of $44.97. The company’s fifty day moving average price is $40.80 and its 200 day moving average price is $41.70. The company has a market capitalization of $22.94 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 2.18 and a beta of 0.52.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.05). The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. FirstEnergy’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. As a group, analysts expect that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Friday, February 7th. FirstEnergy’s payout ratio is currently 109.68%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FE shares. KeyCorp cut their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Wednesday, December 4th. Scotiabank raised FirstEnergy from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $45.00 to $50.00 in a research report on Thursday, December 12th. Morgan Stanley dropped their target price on FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Barclays lifted their price target on FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.27.

FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.